WASHINGTON (AP) — WASHINGTON (AP) — Cava Group Inc. (CAVA) on Thursday reported first-quarter net income of $25.7 million.
On a per-share basis, the Washington-based company said it had profit of 22 cents.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.
The Mediterranean restaurant chain posted revenue of $331.8 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $330.6 million.
Cava shares have dropped 12% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $99.06, a climb of 26% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAVA at https://www.zacks.com/ap/CAVA
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